Celebrities are powering meme coins from $BONK to Shiba Inu to DOGECOIN

Looking back to the days when Elon Musk was developing Dogecoin feels almost like ancient history
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($DOGE) and Shiba Inu ($SHIB)
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) and Matt Damon was creating quality TV ads for Crypto.com. Then again, it was only six months ago that Kim Kardashian was fined approximately $1.3 million for levying Ethereum Max Shillings ($EMAX) and not disclosing the payment. It was about. Who can forget Justin Bieber and Eminem purchasing Bored Ape NFTs? Famous people like to take risks, and that's often what got them to the top.

Countless celebrities have sought to get in on the action ever since cryptocurrencies began attracting mainstream media attention when their prices skyrocketed during the 2021 bull market. Some people have done a great job, while others have been fined. Now, at this very moment in the strange and incredible story of cryptocurrencies, meme coins are taking center stage and enjoying their moment in the spotlight, while celebrities are once again getting involved.

Did a celebrity accidentally help invent meme coins?

I would like to pause for a moment and share my position on meme coins in general. I think they're fun, exciting, and relatable, even if they're a little silly at times. I remember someone saying during the last bull market that “novelty precedes practicality.” That has stayed with me forever. I am confident that if allowed to flourish, meme coins will attract millions of eager new adopters to the Web3 ecosystem, further increasing the demand for innovation. Meme coins are an undeniable force, and coins that truly connect with investors often achieve great results and develop real-world applications.

Dogecoin started as a joke, but look now. It is a payment method accepted by businesses around the world and has a market capitalization of over $26 billion. Of course, there was support from many celebrities along the way. In fact, would it have been so successful without Elon Musk's love for tokens? Even DOGE's founder sold all his shares because he couldn't trust DOGE.

One project I like to use as an example is $BONK.This is Solana
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A meme coin based on the cartoon noise made when someone gets hit in the head. Like $DOGE and $SHIB, it is characterized by the Shiba Inu breed. I first came across BONK to a cell phone owner when he read an article about the Solana Saga cell phone, which was suffering from poor sales until an airdrop of BONK was promised. . Suddenly everyone wanted her BONK and Saga phone, and the prices of both went up. The usefulness of BONK has shown that it can be used to energize the Web3 community.

The new Saga phones were airdropped for 30 million Bonks each, with thousands of early phone owners claiming their phones. This airdrop was worth about $700 at the time the device was received, but has since grown to over $1,000. As of this writing, it's still around $700, but it holds its value well as practicality took precedence over novelty. “Bonk”
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“It boasts over 119 integrations across 10 separate chains, ranging from DeFi, gaming, NFTs, social, and wallets,” the BONK website currently claims. To get to this point, Bonk DAO (a group of 12 Solana power brokers) had to spend millions of dollars airdropping their BONK holdings to Saga cell phone owners. . They ended up donating his 50% of the total supply.

What does this have to do with celebrities??Solana has had her fair share of celebrity promotions over the years.? In 2021, Jason Derulo wrote, “I bet on Solana in June. Wow, what a ride! #Crypto.”Then Steve Harvey got in on the action and promoted Solana NFTs
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A collection to raise funds for his charitable foundation. And back in early 2022, Mike Tyson claimed he was “fully committed” to Solana. Together, these three people have more than 15 million followers on Twitter, and their influence extends far beyond that. Cryptocurrency ripple effects may have contributed to Solana's growth in 2021 and his 2022 posts. This contributed to BONK's success and fueled the meme coin craze. It's a domino effect.

I believe the crypto community is attracted to the Memecoin project because it represents the excitement of digital, the randomness and spontaneity of memes, and the power of cryptocurrencies to make millionaires overnight. I feel it. And it's not just me. Jennifer Booze leads the ecosystem development and growth of her APhone, the world's first decentralized smartphone that enables anyone to use high-performance decentralized applications on a browser-enabled smartphone.

“Memecoins are a great example of demystifying decentralization,” says Jennifer. “While they are inherently fun, they also have a strong educational role. They are a great starting point for users to understand what the decentralized web is and how it works. At APhone, we believe that applications such as meme coins and Web3 games are very attractive gateways to cryptocurrencies, blockchain, and Web3. It is possible to reach your great potential without the “push sales'' that have held you back. By gamifying the experience and, above all, making it fun, you can teach people powerful lessons about everything from changing the nature of ownership to protecting identity. ”

I put it in perfectly. I would like to add that they are also the gateway to utility, as many memecoin projects are using that platform to build real innovations. All these considerations make meme coins very likable in my book.

misspelled name

I've argued that celebrities can directly power the meme coin's surge, but they can also sometimes help the ecosystem grow without doing anything at all. However, celebrities may be the subject of jokes.

A new meme coin trend has emerged where tokens are issued with misspelled names of celebrities. Best Solana meme of him I've found so far Some of the names of his coins include “Jeo Boden*,” “Danold Tromp,” “Xi Jongpeng,” and “Berik Obema.” Apart from politics, I also watched “Mechael Sailer,'' “Oren Mosque,'' and “Andrew Tete.'' The idea behind this comes from Spoderman, another meme that just poorly draws Spider-Man and misspells it.

Sometimes the creativity of a meme lies in its simplicity.

*Jeo Boden has seen its token price rise approximately 12,000% in just three days since its launch, reaching a market cap of $49 million.

Interaction of celebrity-driven endorsements and quirky meme coins

Are celebrities actively pursuing crypto sponsorships and endorsements (celebrities associated with FTX are now looking the other way), or are they just victims of harmless fun from the “King of Memes”? No matter what, famous and influential people have a role to play.

Celebrities and meme coins have important things in common. You can make millions of dollars without doing anything in particular. Some people look on with envy, but most people are just having fun. So if a celebrity's entertainment brand can match the level of humor of the meme-her-coin, why shouldn't they collaborate? We can only hope that some real innovation comes from it. That's an even harder question.

The idea that “the numbers will go up”

The charts are soaring, meme coins are soaring, and it's bringing a lot of new people into the space. This will help resolve any liquidity issues these projects may be facing.meme coin
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For now, many whales are just holding on because they know selling their holdings will affect the market. This means that projects have an incentive to play a bit of a long game, and investors have an incentive to expect utility (along with liquidity) as well as a large return for a select few. It means that there is.

It's easy to become obsessed with financial numbers such as quantity and value. But that would ignore what's really interesting about meme coins (and, incidentally, what adds to their long-term value). Coins are more than just currency. They are the foundation of the entire community. Michael Rubinelli, chief gaming officer at WAX, along with Solana, hosts WUFFI, a cross-chain meme coin designed to incentivize third-party game developers, but these The role of coins emphasizes their role as the basis of user-controlled spaces. In addition to trading with each other, you can also build a community in your own way.

“It is important that we never forget the essence of the decentralization revolution,” Rubinelli says. “It’s about taking power away from faceless, unaccountable, and often greedy centralized organizations and returning it to ordinary users. Of course, this requires token issuers to understand their users and We must be prepared to share the same values ​​and foster a democratic and independent community. But when this actually happens, games being a great example, the results are surprising. People , they will be much more loyal to platforms where they feel they have a stake in the community.”

We've seen with Dogecoin that what started as a meme can have a lasting impact. And I think by leveraging celebrities and politicians, there may be a synchronicity that helps that happen. But for now, another crypto meme, “The numbers go up,” may be more accurate.